Here's what I read in 2016 (and despite reading nearly a book a week, I feel dumber than ever) and if you head over to Gheorghe: The Blog, you can see my eleven favorites . . . and if you're really feeling crazy and literary, you can check out my previous lists, but if you're going to read one book on this list, I would suggest Death Comes to the Archbishop by Willa Cather . . . I've read it twice, and I'll bet I'll read it again someday . . . anyway, here they are-- it's a little scary for me when I peruse this list, because I can't remember all that much about some of the titles, but I guess that's what happens when you read too much;
1) Trunk Music (Michael Connelly)
2) Hide & Seek (Ian Rankin)
3) Our Kids: The American Dream in Crisis Robert D. Putnam
4) One Plus One Jojo Moyes
5) Andrea Wulf The Invention of Nature: Alexander Humboldt's New World
6) Death Comes to the Archbishop (Willa Cather)
7) The Milagro Beanfield War (John Nichols)
8) Agent to the Stars (John Scalzi)
9) The Undercover Economist Strikes Back: How to Run-- or Ruin-- an Economy (Tim Harford)
10) Tim Harford The Undercover Economist
11) The Expatriates (Janice Y. K. Lee)
12) Tim Harford The Logic of Life: The Rational Economics of an Irrational World
13) Dale Russakoff The Prize: Who's In Charge of America's Schools?
14) Charlie Jane Anders All the Birds in the Sky
15) Mohamed A. El-Erian The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse
16) Brideshead Revisited: The Sacred & Profane Memories of Captain Charles Ryder (Evelyn Waugh)
17) The Power of Habit:Why We Do What We Do in Life and Business by Charles Duhigg
18) Angels Flight (Michael Connelly)
19) Robert J. Gordon The Rise and Fall of American Growth: The U.S. Standard of Living Since the Civil War
20) Tony Hillerman A Thief of Time
21) Peter Frankopan Silk Roads: A New History of the World
22) Tony Hillerman Hunting Badger
23) Tony Hillerman Listening Woman
24) Tony Hillerman The Wailing Wind
25) The Lost World of the Old Ones:Discoveries in the Ancient Southwest David Roberts
26) Roadside Picnic (The Strugatsky Brothers)
27) Chuck Klosterman But What If We're Wrong?: Thinking About the Present as if It Were the Past
28) White Sands: Experiences from the Outside World by Geoff Dyer
29) The Inevitable: Understanding the 12 technological forces that will Shape our future by Kevin Kelly
30) Annihilation by Jeff Vandermeer
31) Three Men in a Boat (To Say Nothing of the Dog) Jerome K. Jerome
32) Sapiens: A Brief History of Humankind by Yuval Noah Harari
33) Truly Madly Guilty Liane Moriarty
34) Seinfeldia by Jennifer Keishin Armstrong
35) Weapons of Math Destruction: How Big Data Increases Inequality and Threatens Democracy by Cathy O'Neil
36) Ghosts by Reina Telgemeier
37) The Walking Dead 23-26
38) The Short and Tragic Life of Robert Peace: A Brilliant Young Man Who Left Newark For the Ivy Leagues by Jeff Hobbs
39) The Nix by Nathan Hill
40) Bill Bryson The Road to Little Dribbling: Adventures of an American in Britain
41) Tim Wu The Attention Merchants: The Epic Scramble to Get Inside Our Heads
42) Colson Whitehead The Underground Railroad
43) Nicholson Baker Substitute
44) The Ocean of Life: The Fate of Man and the Sea by Callum Roberts
45) Hillbilly Elegy: A Memoir of Family and Culture in Crisis by J.D. Vance.
Showing posts sorted by relevance for query harford. Sort by date Show all posts
Showing posts sorted by relevance for query harford. Sort by date Show all posts
Inflation Subverts Sticky Prices
The Planet Money podcast recommended everything written by Tim Harford, and I love Planet Money, so I went to the library and took out The Undercover Economist Strikes Back: How to Run-- or Ruin-- an Economy and the guys at Planet Money were right; this is a highly entertaining look at macroeconomics and some of the problems and solutions to keeping an economy chugging along . . . most of ideas are a bit counterintuitive . . . the best time to trim spending, pay off debt and deregulate is during a boom-- and while most countries do these things during a recession, the best thing to do during a recession is dust off huge government projects and allow the government to employ lots of people and create value and worth . . . but again, these are the things that usually happen during a booming economy; I also learned that inflation is the only way to defeat sticky prices and sticky wages-- it's really hard to cut people's pay and to mark down the value of goods and services once a fair price is established, but if you have a bit of inflation every year, then you can still give people raises, they are just less than the rate of inflation, so-- in effect-- they are taking a pay cut, and this works the same way with devaluing a house or something that is difficult to part with for less money than you paid for it (even if it's truly worth less money-- countries with higher home ownership also have higher unemployment, because it's harder to move where the jobs are because housing markets are slow and sticky and efficient); Harford ends the book addressing inequality of income and what that really means around the world, within countries and between them, and he believes the course of action to understanding large-scale economics is that the models need to incorporate more on human behavior, because we don't behave like perfectly rational future prediction machines, we are at the whims of our "animal spirits" and when these exacerbate an economy on a large scale, it's extremely hard to predict what is going to happen.
Life isn't Fair (but Sometimes It Is Logical)
Tim Harford's The Logic of Life: The Rational Economics of an Irrational World is another gem, especially if you're a fan of Freakonomics style logic; he examines how incentives often do the reverse of what is intended-- the existence of nicotine patches encourage teens to smoke, too many women in big cities discourage marriage, mild preferences create neighborhoods that would suggest virulent racism, it's more beneficial to research the kind of coffee maker or car you're going to buy than the next presidential candidate, your boss is probably an overpaid dope who doesn't know how hard you work (and that makes perfect sense) and the best way to solve overpopulation might be to move to the city and have six kids . . . I don't have the time or energy to explain the logic behind all these conclusions, but the book is smart and worth a read, though I must warn you, it starts in a rather salaciously concupiscent manner (reminiscent of Superfreakonomics).
Incentives and The Prize
I'd like to know what economic lessons Tim Harford would find behind Mark Zuckerberg, Cory Booker, and Chris Christie's attempt to transform the Newark school system; Zuckerberg donated 100 million dollars, Cory Booker-- a passionate proponent of charter schools-- raised sums to match this money, and Chris Christie saw this as an opportunity to attack the unions; Dale Russakoff explains all this and more in her book The Prize: Who's In Charge of America's Schools? and the morals of the story are complex, ugly, ambiguous, messy, and occasionally inspirational:
1) there is no magic bullet to fix education in an impoverished city;
2) top down directives, even if they use excellent jargon, don't change broken infrastructure;
3) you can't move kids around willy-nilly in a city like Newark to fill charter schools-- because the kids left behind have no where to learn, and the kids who get moved may have issues with with where they are moved-- gang turf, lack of busing, etcetera;
4) if you don't consult the community before implementing giant initiatives that involve their kids, they will feel angry and oppressed, especially if these directives are ordered by a white superintendent in a primarily black city;
5) you can be a rock-star or a mayor, but you can't be a rock-star mayor;
6) it's difficult to measure what parents and administrators find important in education, so the bureaucracy tends to find important what is easy to measure-- which is usually test scores-- and this can bite you in the ass;
7) consultants know how to bill hours and make a shitload of money from a situation like this (and it seems Zuckerberg has learned this lesson and is trying a different approach in the San Francisco bay area);
8) kids in a city like Newark need all kinds of additional support besides teaching, many of them have experienced horrible tragedy and violence, and they need counseling and psychological support as much as they need reading and math review;
9) Newark's billion dollar education budget is the "prize" sought after by politicians, unions, government and citizens . . . and there is going to be greed and corruption surrounding this much money;
10) there are superb teachers and students in the current system, and smart parents shepherd their kids through, but it's difficult to get rid of poor teachers because of union rules;
11) politicians and philanthropists will eventually lose interest and move on with their lives, but the parents and the kids and the community remains-- so change has to come from the bottom-up, and it needs to come from people that are going to stay in the community-- Booker went on to a senate position, Christie had to deal with Bridgegate and his presidential campaign, and Zuckerberg moved on to a new project-- meanwhile, the two hundred million dollar donation was a drop in the bucket, and got eaten up by consultants, contract negotiations with the union, and some charter schools-- but the main infrastructure in Newark is still ancient and crumbling, teachers still go to work in that environment, and students attempt to learn there . . . and the work needs to be done one student and one teacher and one classroom and one school building at a time, which is far more boring than radical, transformational top-down change;
12) if you want to understand some of the complexities of educational reform, read this book.
1) there is no magic bullet to fix education in an impoverished city;
2) top down directives, even if they use excellent jargon, don't change broken infrastructure;
3) you can't move kids around willy-nilly in a city like Newark to fill charter schools-- because the kids left behind have no where to learn, and the kids who get moved may have issues with with where they are moved-- gang turf, lack of busing, etcetera;
4) if you don't consult the community before implementing giant initiatives that involve their kids, they will feel angry and oppressed, especially if these directives are ordered by a white superintendent in a primarily black city;
5) you can be a rock-star or a mayor, but you can't be a rock-star mayor;
6) it's difficult to measure what parents and administrators find important in education, so the bureaucracy tends to find important what is easy to measure-- which is usually test scores-- and this can bite you in the ass;
7) consultants know how to bill hours and make a shitload of money from a situation like this (and it seems Zuckerberg has learned this lesson and is trying a different approach in the San Francisco bay area);
8) kids in a city like Newark need all kinds of additional support besides teaching, many of them have experienced horrible tragedy and violence, and they need counseling and psychological support as much as they need reading and math review;
9) Newark's billion dollar education budget is the "prize" sought after by politicians, unions, government and citizens . . . and there is going to be greed and corruption surrounding this much money;
10) there are superb teachers and students in the current system, and smart parents shepherd their kids through, but it's difficult to get rid of poor teachers because of union rules;
11) politicians and philanthropists will eventually lose interest and move on with their lives, but the parents and the kids and the community remains-- so change has to come from the bottom-up, and it needs to come from people that are going to stay in the community-- Booker went on to a senate position, Christie had to deal with Bridgegate and his presidential campaign, and Zuckerberg moved on to a new project-- meanwhile, the two hundred million dollar donation was a drop in the bucket, and got eaten up by consultants, contract negotiations with the union, and some charter schools-- but the main infrastructure in Newark is still ancient and crumbling, teachers still go to work in that environment, and students attempt to learn there . . . and the work needs to be done one student and one teacher and one classroom and one school building at a time, which is far more boring than radical, transformational top-down change;
12) if you want to understand some of the complexities of educational reform, read this book.
More Undercover Economics
I highly recommend Tim Harford's book The Undercover Economist-- here are a few of the many many topics he covers:
1) why storebrand supermarket products are packaged with the "purpose of conveying awful quality" though they are often indistinguishable from actual braids . . . it wouldn't cost much to improve the logos of these products, but that would defeat the purpose, the packaging is designed to put off customers who might be willing to pay more . . . IBM did this with their LaserWriter E low end printer, which was the same machine as their high end LaserWriter, only with an additional chip to slow it down-- it was cheaper to manufacture it like this than make an actual slower printer for less-- and the same goes for "professional" and mass-market versions of software programs . . . the professional is built first and then the cheaper one is handicapped;
2) the externalities of traffic jams . . . the best solution might be a per trip tax, especially during rush hour in congested areas;
3) the economic reasons U.S. health care is "hugely expensive, very bureaucratic, and extremely patchy" and the ways we can combat this, using inside information, catastrophe insurance, and cooperation between the government and markets;
4) why poor countries are poor, and why tariffs and "bringing jobs" back isn't the answer-- this section gets quite technical, but mainly what I got out of it is that poor countries try to protect industries that can't compete in the global market instead of doing what they do best, and this often leads to subsidies and corruption which drain from the economy and only help special interest groups-- in other words, the best way to make really good cars in the US is a technology called "Japan," and we should grow a shitload of corn and export it so we can turn that foreign currency into great cars, instead of trying to make our own . . . this in controversial, of course, and people get laid off and fired and have to be retrained along the way . . . but that's what wealthier countries do, time after time (and I have read that no country has become poorer after opening its borders, though I have also read that you may need the government to help you establish the infrastructure to compete on an global level, and then you can kick out the ladder . . . economists never agree on anything).
1) why storebrand supermarket products are packaged with the "purpose of conveying awful quality" though they are often indistinguishable from actual braids . . . it wouldn't cost much to improve the logos of these products, but that would defeat the purpose, the packaging is designed to put off customers who might be willing to pay more . . . IBM did this with their LaserWriter E low end printer, which was the same machine as their high end LaserWriter, only with an additional chip to slow it down-- it was cheaper to manufacture it like this than make an actual slower printer for less-- and the same goes for "professional" and mass-market versions of software programs . . . the professional is built first and then the cheaper one is handicapped;
2) the externalities of traffic jams . . . the best solution might be a per trip tax, especially during rush hour in congested areas;
3) the economic reasons U.S. health care is "hugely expensive, very bureaucratic, and extremely patchy" and the ways we can combat this, using inside information, catastrophe insurance, and cooperation between the government and markets;
4) why poor countries are poor, and why tariffs and "bringing jobs" back isn't the answer-- this section gets quite technical, but mainly what I got out of it is that poor countries try to protect industries that can't compete in the global market instead of doing what they do best, and this often leads to subsidies and corruption which drain from the economy and only help special interest groups-- in other words, the best way to make really good cars in the US is a technology called "Japan," and we should grow a shitload of corn and export it so we can turn that foreign currency into great cars, instead of trying to make our own . . . this in controversial, of course, and people get laid off and fired and have to be retrained along the way . . . but that's what wealthier countries do, time after time (and I have read that no country has become poorer after opening its borders, though I have also read that you may need the government to help you establish the infrastructure to compete on an global level, and then you can kick out the ladder . . . economists never agree on anything).
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